Investor Presentaiton

1 Government 4-pillar of Reforms Structural Reforms 3 " Tax Reform ■ Corporate income tax reform Enhancing easiness of tax compliance Capital Market Reform " Boosting stock exchange activities Developing of local bond market Pension Reform ■Introduction of private pension system PPP Reform Introduction of transparent and efficient PPP framework. Public Investment Management Framework " Improved efficiency of state projects Deposit Insurance Boosting private savings Enhancing trust to financial system Accounting Reform ■ Increased Transparency and financial accountability Enhanced protection of shareholder rights Association Agreement Agenda 2 Promoting Transit & Tourism Hub GEORGIA CAPITAL Roads Rail Plan to finish all spinal projects by 2020 - East-West Highway, other supporting infrastructure ■ Baku - Tbilisi Kars new railroad line " Air Railway modernization project ■Tbilisi International Airport - 2nd runway to be constructed International Cargo terminal Maritime ■Anaklia deep water Black Sea port Strategic location Capable of accommodating Panamax type cargo vessels High capacity up to 100mln tons turnover annually Up to USD 1bln for first phase (out of 9) in Georgia Promoting Open Governance 4 Improvement of Public Services offered to the Private Sector Creation of "Front Office" Application of "Single Window Principle" Involvement of the Private Sector in Legislative Process " Discussion of draft legislation at an early stage Strict monitoring of implementation of government decisions Creation of special unit for monitoring purposes General Education Reform Education Reform Maximising quality of teaching in secondary schools Fundamental Reform of Higher Education Based on the comprehensive research of the labour market needs ■ Improvement of Vocational Education Increase involvement of the private sector in the professional education Page 72

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